ASCENT LIFTING, INC. 401(K) PLAN Contribution & Employer Match

How ASCENT LIFTING, INC. Supports Your Retirement Savings

ASCENT LIFTING, INC. provides retirement savings benefits through ASCENT LIFTING, INC. 401(K) PLAN. Understanding your employer’s contribution structure is essential — it directly affects how quickly your retirement nest egg grows. Below you will find the plan’s average account values and contribution patterns based on publicly filed data.

ASCENT LIFTING, INC. 401(K) PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for ASCENT LIFTING, INC. 401(K) PLAN is $117,111.00

ASCENT LIFTING, INC. 401(K) PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for ASCENT LIFTING, INC. 401(K) PLAN is $11,447.00. If you contribute an amount exceeding this, you have saved more than your colleagues. Congratulations! Keep up the good work. Otherwise, you might want to consider contributing more to ensure a better retirement future.
732,626.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 11,447.00 in ASCENT LIFTING, INC. 401(K) PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in ASCENT LIFTING, INC. 401(K) PLAN

An employer match is one of the most valuable benefits in any 401(k) plan — it is essentially free money added to your retirement savings. Your employer contributes additional funds based on a percentage of your own contributions. Missing out on the full match is one of the most common and costly retirement mistakes employees make.

ASCENT LIFTING, INC. 401(K) PLAN Total Employer Contribution and Match Rate

In 2024, ASCENT LIFTING, INC. 401(K) PLAN allocates $748,643.00 to match its employees’ contributions, providing an employer match rate of 46.55% of their contributions

ASCENT LIFTING, INC. 401(K) PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in ASCENT LIFTING, INC. 401(K) PLAN is approximately $2,664.00
Investing in this additonal $2,664.00 for 20 years would give you extra $170,509.00, assuming a 10% annual return.

* Data are from public filings.

Are You Leaving Dollars on the Table?

If you are not contributing enough to capture the maximum employer match, you are literally turning down part of your compensation. For many plans, this can mean thousands of dollars per year in lost employer contributions — money that would compound over decades.

Use the policy details and calculator below to find out exactly how much you need to contribute to capture every dollar of employer matching.

ASCENT LIFTING, INC. 401(K) PLAN Contribution & Match Policy

ASCENT LIFTING, INC. 401(K) PLAN Plan Policies

ASCENT LIFTING, INC. 401(K) PLAN Contribution, Match and Other Plan Policies

  • Eligible participants are permitted to elect to have up to 90%, of their compensation contributed as pre-tax 401(k) or Roth contributions to the Plan.
  • Participants who have attained age 50 before the end of the plan year are eligible to make catch-up contributions.
  • Effective January 1, 2024, the Company contributes a safe harbor matching contribution equal to 100% of employee deferrals that are not in excess of 4% of eligible compensation.
  • Participants are immediately vested in their contributions, safe harbor matching contributions and QNECs, plus actual earnings thereon.
  • Vesting in the Company’s discretionary matching contribution portion of their accounts, plus actual earnings thereon, is based on years of credited service.
  • A participant is 20% vested after one year of credited service with an additional 20% vesting per year until the participant is 100% vested after five years of credited service.
  • Additionally, participants become fully vested upon reaching normal retirement age, death, or disability as defined in the Plan document.
  • Eligible employees from the Advantage Sales & Supply 401(k) PS Plan vest in their prior employer profit sharing contributions at 20% after two years of credited service with an additional 20% vesting per year until the participant is 100% vested after six years of credited service.

2025 IRS 401(k) Contribution Limits

The IRS sets annual limits on how much you and your employer can contribute to a 401(k) plan. Knowing these limits helps you maximize tax-advantaged savings. Here are the current limits:

 20242025
Employee elective deferrals (pretax + Roth)$23,000$23,500
Employee + employer contributions combined$69,000$70,000
Catch-up contributions (age 50+)$7,500$7,500
Enhanced catch-up (ages 60–63, SECURE 2.0)N/A$11,250

The power of maxing out: If you contribute the full $23,500 annually for 20 years at a 10% average annual return, you would accumulate approximately $1,505,256. If you can maximize the combined employee+employer limit of $70,000 per year, that grows to roughly $4,480,385 over the same period — more than triple.

Use the 401(k) Savings Calculator to model your specific contribution scenario and see how your savings can grow over time.

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